Donald Trump issued Executive Order 14178 endorsing lawful use of public blockchains, self-custody, mining, and validation — then followed up with Executive Order 14233 establishing a Strategic Bitcoin Reserve and a U.S. Digital Asset Stockpile. The moves pushed Bitcoin deeper into the center of U.S. government policy than any prior administration, lowering the perceived risk of a federal ban. But the real-world numbers since those orders tell a more complicated story.
Where prices have gone
Bitcoin was trading around $67,800 on election day. By inauguration day it had jumped to about $101,200. Then came the reserve order on March 6, 2025 — and the price was already lower at roughly $90,600. As of May 10, 2026, Bitcoin sits around $80,700, a gain of about 20% from election day but well below those early peaks. The all-time high of $126,198 came on Oct 6, 2025; the current price is roughly 37% below that level.
What the polls show
Public polling during Trump’s post-election period consistently shows low Bitcoin ownership and high risk perception. Weak public confidence has persisted even as the White House formally embraced digital assets. On-chain transaction counts increased at selected endpoints, but address growth and fee data do not confirm broad base-layer demand. In short, the policy hasn't yet translated into everyday adoption.
The reputation problem
Trump’s policies may have reduced the risk of a federal ban, but Trump-linked crypto businesses created a separate reputation problem for Bitcoin. That association can't be dismissed as apolitical — it's a real headwind for an asset that once marketed itself as outside the political fray. The administration's embrace is a double-edged sword: it brings legitimacy but also partisan baggage.
The next concrete test will come as the Strategic Bitcoin Reserve's operational details emerge — including how the government plans to acquire and hold bitcoin without moving the market. That's a question no executive order has answered yet.
